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Consider a 5-year, 5% annual coupon $1000 par bond currently trading at $950. Suppose that the bond is first putable in 2 years at par.

image text in transcribed Consider a 5-year, 5% annual coupon $1000 par bond currently trading at $950. Suppose that the bond is first putable in 2 years at par. What is the bond's yield to first put? Assume annual compounding. Round your answer to 4 decimal places. For example if your answer is 3.205%, then please write down 0.0321

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